Transport Cars

Uber Earns $3.5 Billion Valuation with Investments by Google Ventures and TPG

Excerpt from All Things D

Aug 22, 2013 5:26 pm

Skift Take

Uber has a lot of believers in the investment community, and there was apparently a lot of elbows flying as the monied folk competed to get in on the hot startup with the $3.5 billion valuation. Uber regulatory battles doesn’t seem to put a brake on investor interest.

— Dennis Schaal

Free Report: The Changing Business of Extended-Stay Hotels

According to a Delaware filing by Uber Technologies, it has sold stock in the fast-growing privately held transportation service to private equity giant TPG. In addition, according to sources who have seen other stock documents, Uber has also taken a major investment from Google Ventures.

The overall valuation for the San Francisco company, according to the August 1 document, and also sources, is $3.5 billion. Though pricey, the latest scramble to be in the Uber funding round was apparently very competitive. Sources said Google won the investment because of direct intervention by CEO Larry Page, who met with Uber CEO Travis Kalanick.

Read the Complete Story →

Tags: , ,

Next Up

More on Skift

Richard Branson Gets First Tour of Virgin Atlantic’s First Dreamliner
8 Aviation Trends We’re Tracking at Skift This Week
Skift Forum Video: The Future of Travel Marketing According to Starwood
4 Strategies to Better Engage the Millennial Traveler